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IRA Charitable Rollover – A Tax Wise Giving Opportunity

If you are 70½ or older you may be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a QCD (Qualified Charitable Distribution) that allows qualified donors to exclude from income a direct transfer to a public charity from their IRAs.

IRA Charitable Rollover
IRA (Custodian)
CBN
Charity image

Benefits of an IRA charitable rollover

  • A tax-free distribution on transfers of up to $100,000 from your IRA to CBN
  • Satisfy your required minimum distribution (RMD) for the year
  • Reduce your AGI and taxable income, even if you do not itemize deductions
  • Lower adjusted income may benefit you by minimizing your Medicare premiums or lowering the tax levied on your Social Security benefits
  • Make a gift that is not subject to the 50% deduction limits on charitable gifts
  • Help further the work and mission of CBN

It is a Simple Process!

  1. Contact your IRA plan administrator to make a gift from your IRA to us.
  2. Your IRA funds will be directly transferred to CBN to help continue our important work.
  3. Please note that the charitable IRA donation is an exclusion from income and therefore does not qualify for a charitable deduction.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Contact us

If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.

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